Bitcoin For School Fees’ Payment: How Possible Is This?

Using bitcoin for school fees payment could be another convenient addition to settling transactions in other climes, but in which places could this be possible?

This question has become necessary given both the convenience of cashless transactions, but also because bitcoin is becoming increasingly popular in the country.

Latest information shows that in Scotland, a boarding schools has begun accepting bitcoins for settlement of boarding fees, with the school management describing its as “independent thinking and innovation”

A report monitored by The Eagle showed that Lomond School in Helensburgh, Argyll and Bute, has become the first UK private school to accept tuition payments in Bitcoin.

Interestingly, it was parents that came up with the idea before the school bought into it.

With its charges up to £38,000 per year, the independent boarding school, bought into the idea as floated by some parents.

The implication is that beginning from the autumn term, the school would accept Bitcoin payments for school fees from parents and guardians.

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Upon paying in bitcoins, the bitcoin would then be converted into pounds to reduce currency risk.

The concession is for bitcoins only, the school however clarified.

Head teacher Claire Chisholm said the decision reflects the school’s culture of “independent thinking and innovation,” noting that TV pioneer John Logie Baird was a former pupil.